Diane Schamay
BEDS5
BATHS
SQUARE FEET1,818
MLS#A4697057
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONRIDGEWOOD ESTATES
Property Description
Rare investment opportunity in Sarasota! Multi-family properties are seldom available in this predominantly single-family neighborhood, making this duplex a unique addition to any real estate portfolio. This income-producing property offers two separately leased units with a combined living area of approximately 1,818 square feet on a 7,800-square-foot lot.The front unit features 3 bedrooms, 1 bathroom, & a dedicated laundry room while the second (Back) unit offers 2 bedrooms, 1 bathroom, and backyard access. Both units are currently occupied through 3/31/2026, providing immediate rental income and minimizing vacancy risk for investors seeking stable cash flow. Electric/Water are not separately metered and Landlord pays these two utilities.Several major improvements have already been completed, including a new roof in 2019, updated HVAC in 2023 (back unit uses window units), and an updated electrical panel in 2023. The property is in the central Sarasota area with easy access to shopping, dining, schools, employment centers, downtown Sarasota, and the area's world-famous Gulf Coast beaches. Gross rents of $4,010. Annual Leases. Seller will consider owner financing. Showings require advanced notice. Call today!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Wall/Window Unit(s)
Heating: Central
Lot Size: 0.18 Acres
Roof Type: Membrane
Stories: 1.0
Taxes: $3,818
Year Built: 1960
Amenities
Ceiling Fans(s)
Open Floorplan
Thermostat
Fence
Storage
Feature Descriptions
Annual Net Income: 33000.00
Appliances: Dishwasher, Range, Range Hood, Refrigerator
Directions: From the intersection of McIntosh Rd and Bee Ridge Rd:Head East on Bee Ridge Rd. Make a left on to Crest Ridge Dr. then an immediate left on Lahaina Dr. The road will wrap you to the right which becomes Papai Dr. Property will be down 7 properties on the
Exterior: Block, Stucco
Flood Zone Code: X
Flooring: Tile
Foundation: Slab
Home Warranty Y/N: No
Lease Terms: Twelve Months
Listing Terms: Cash, Conventional, FHA, Owner Financing, VA Loan
Lot: In County, Paved
Lot Dimensions: 0.18
Other Structures: Shed(s)
Ownership: Fee Simple
Parking: Driveway
Parking Notes: Driveway
Property Attached Y/N: No
Property Sub-Type: Duplex
Security: Smoke Detector(s)
Sewer: Public Sewer
Showing Instructions: 24 Hour Notice, Appointment Only, Call Listing Agent
Special Sale Provisions: None
Units: 2
Utilities: BB/HS Internet Available, Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected
Water: Public
Water Access Y/N: No
Windows: Blinds
Zoning: RSF3
Local Schools
High School: Sarasota High
Elementary School: Brentwood Elementary
Listed By / Shown By
Listed By
Agency Name: RELAX PROPERTY GROUP, LLC
Agency Contact: 941-923-7200
Shown By
Agent Name: Diane Schamay
Agent Phone: (386) 299-6191
Agency Title: Adams Cameron & Co. REALTORS
Estimate Your Payment
Estimated Payment
$ 2,843.26 per month $2,393.90 Principal & Interest $318.17 Property Tax $131.18 Homeowner's InsuranceChange Payment Information
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3731 Papai Drive | MLS# A4697057
This multi-family property located at 3731 Papai Drive , Sarasota, FL 34232 is currently listed for sale with an asking price of $449,777. Search Sarasota real estate on dianeschamay.adamscameron.com today.